$NEAR Rejected at $2.99 – Breakdown Imminent? 🔻
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Setup (Short):$NEAR
• 🔻 Entry: $2.83
• 🎯 Take Profit (TP): $2.74 (previous bounce low)
• 🛡️ Stop Loss (SL): $2.89 (just above 25MA resistance)
• ⚡ Leverage: 10x
• ⚖️ Risk Level: Medium
• 🔁 Type: Short
• 🧠 Strategy: MA squeeze + Lower high rejection
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Narrative:
NEAR attempted a push to $2.99 but got heavily rejected with strong wicks and has since broken below the 7MA. Volume on the red candles is rising while price fails to reclaim the 25MA ($2.88). Unless bulls step in now, momentum is shifting bearish in the short term.
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📉 Scenario Breakdown:
• Clean rejection from local high
• MA cluster ($2.88–$2.90) acting as resistance
• 99MA holding as temporary support – if lost, quick drop to $2.74 likely
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🔥 This trade is all about timing the retrace after the bull trap.